Top Crypto Exchange OKEx Primed for US Entry; Joins Huobi, OKCoin, Stellar in GLASS

okex on a smartphone

One of the world’s most popular cryptocurrency exchanges, OKEx, has today announced that it will be joining Global Liquidity and Settlement System (GLASS) – a decentralized network of crypto trading platforms developed by San Francisco-based broker-dealer and alternative trading system (ATS), SharesPost.

For OKEx – who, according to cryptoasset research firm Diar’s most recent newsletter (V2.33/34), enjoyed a record monthly traded volume (USD) in July – joining the GLASS Network makes for a legally compliant way by which to expand into new foreign markets.

For the predominately Asian-oriented digital asset trading platform, this comes as welcome news with respect to tapping into the notoriously red-taped US digital securities market. Indeed, when GLASS becomes operational, OKEx will be able to enjoy access to US-based investors.

This is because the GLASS network promises to comprise multiple, globally dispersed licensed entities, meaning that security token transactions will be in adherence with local securities laws. Regarding the US, this access for GLASS members like Huobi Group, OKCoin, Stellar Decentralized Exchange, and now OKEx, comes by way of the SharesPost Marketplace, an extant ATS for digital and other unregistered securities.

Commenting on the other major benefit for these member exchanges (i.e., being able to serve an expanded user base and supported asset types) was Jason Lau (VP of Business Development, OKEx), who stated in Wednesday’s announcement that:

There is a growing demand for a decentralized liquidity and settlement solution in the market. Combining SharesPost’s regulatory infrastructure and OKEx’s deep pool of digital asset liquidity, GLASS will offer exchanges the most efficient, lowest cost way to settle compliant security tokens trades.”

Already representing the world’s largest pool of token liquidity, the GLASS Network looks primed to benefit from network effects and economies of scale as it begins its quest toward enabling for a more streamlined and cost-efficient trading, certification, and custody of security tokens and tokenized assets. Such sentiment was echoed in SharesPost’s press release on Wednesday:

By joining GLASS, the world’s leading crypto exchanges are signalling their commitment to compliant trading of blockchain securities and their belief that GLASS will soon make that a reality.” – Greg Brogger (Founder and CEO, SharesPost)

Related posts